Feed Every Gorilla is a coin that can easily compete for the title of the crypto with the coolest name. The FEG token provides a fully decentralized network enabling users to conduct transactions and benefit from the project’s infrastructure. FEG is, in many ways, a unique asset owned by thousands of people. Today, FEG is gradually expanding its ecosystem by offering relevant products to the crypto community, including FEGEx. Check out this article to learn more about FEGtoken and its features.
- FEG token is a cryptocurrency existing on Ethereum and BSC networks.
- FEG token is a hyper-deflationary currency.
- NOWPayments enables businesses to feature a FEG payment gateway.
What is FEG?
FEG Token basics
The primary idea behind the FEG Token is the provision of a fully decentralized transaction network to users worldwide. The FEG project operates both on the Ethereum blockchain and the Binance Smart Chain. As a result, the native token of the FEG project has two variants, an ERC-20 token variant, and a BEP-20 token variant. The multi-chain nature of FEG makes it a highly flexible asset that can fit into a large number of Defi cases. FEG has a clear vision and a plan on how to go forward to achieve mass adoption. Essentially, the FEG Token is committed to growing through managing market fluctuations, mastering the capacity to create adoption for FEG Exchange, and integrating rewards from its SmartDeFi Launchpad. Essentially, FEG is one of the crypto projects which have a roadmap that all investors can see and analyze to decide whether they wish to get their share of FEG.
One of the key features of FEG is that it is a hyper-deflationary token. This means that gradually, the supply of the token will decrease as more and more coins will get out of the economy. The maximum circulating supply of FEG is set at 100 quadrillions on both the Ethereum blockchain and the Binance Smart Chain. In order to prove that FEG is truly a deflationary token, the developers behind the project conducted a considerable reduction in the number of FEG right from the outset. Essentially, the project performed a token burn in which 50 quadrillion tokens were burnt at launch on both chains and were sent to an inaccessible wallet.
Moreover, every holder of FEG automatically gets a reward from the project. Essentially, a 2.00% transaction tax, which is imposed on all FEG transactions, gets distributed among every single FEG holder. The particular size of the share which every holder receives depends on their percentage of ownership of FEG tokens. The burn wallet is also included in the redistribution model. Basically, holders not only collect more tokens over time as transactions occur, but a substantial share of tokens disappears from the supply, which results in deflation.
Gradually, as the circulating supply decreases, the scarcity of the token will increase, which may potentially contribute to the growth of FEG in value. Such a relationship constitutes a supply and demand model espoused by FEG. It is important to note that there is no limit as to how many tokens can be burnt.
Does FEG have value?
FEG has an extensive ecosystem of products which ultimately support the value of its native token. According to the network information, FEGtoken is held by thousands of people, and they are not planning on parting with their FEG holdings. Thus, it is possible to assume that FEG is likely to maintain its status as one of the most promising coins on the market. Besides, FEG is a hyper-deflationary token whose supply is continuously decreasing, which is also great news for investors hoping to see a value rise of FEG in the future. FEG is currently going through an upgrade which is expected to take the FEG ecosystem to another level making it more attractive to investors. Nevertheless, since FEG is not the most popular coin out there, it is probable that investors will need to rely on a long-term strategy when investing in the asset. Still, FEG definitely has value and a great future ahead of it.
FEG use cases
FEG has many use cases inside the FEG ecosystem, and FEGex is the crucial one. Basically, FEGex is a multi-chain decentralized exchange running on both the Ethereum blockchain and BSC. In the near future, FEG is planning on adding more blockchains, including AVAX, MATIC, and FTM.
Cross-chain transactions will provide FEGex with a centralized feature within a decentralized environment.
In order to benefit from the FEG ecosystem, FEG investors can stake their coins. FEG Token holders can receive a share of all sell volume of FEGex through special rewards. The rewards are distributed to FEG Token stakers in a way which is similar to the 2% tax distribution model. IN other words, FET stakers get their rewards depending on the percentage of the staking pool each they own.
The rewards are distributed by the deployer when some staker withdraws their rewards from the staking reward pool or when certain conditions are met inside the staking reward pool.
As of June 2022, the FEG developers were working on the 3rd version of the staking system. It will bring a number of improvements in stability and security. Additionally, it will also implement extra sources of revenue for stakers.
FEG token holders can increase the number of their FEG tokens by using the FEGfaucet. The faucet consists of the initial 22 trillion FEG tokens, which were deposited into a permanently locked system. The faucet collects frictionless rewards in FEG Token and allows anyone to claim those rewards as they accumulate.
So, whenever some person claims these rewards, the claimable amount resets to zero. Users can claim their rewards once every 24 hours per wallet.
FEG also offers fWraps. Basically, fWrapped tokens are equipped with a 1% reflection tax which is applied and distributed among all holders every time this token is wrapped, unwrapped, or transferred to another address.
Thanks to fWrapped tokens, investors can yield high APY returns as they leverage the trading volume on FEGex. Every token which is listed on FEGex gets paired with an fWrapped base token. Subsequently, every time a token is traded on FEGex, its fWrapped base token is either wrapped or unwrapped, thus feeding rewards to every holder.
How to accept FEG Token
NOWPayments enables businesses to integrate FEG payments. For example, companies can issue crypto invoices including with the help of a web-based Point-of-Sale crypto terminal. There is also a solution for accepting subscription-based payments.
Owners of online stores deployed on PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware can utilize crypto plugins to set up their FEGtoken payment gateway.
Businesses that want to have their custom solutions can utilize NOWPayments’ API.
FEG token is a promising project striving to grow its ecosystem and provide opportunities to all investors. NOWPayments helps businesses to accept FEG as payment.